Fortress Income Fund Ltd

FFB · JSE · Real Estate / Real Estate Services

2,525.00ZAC+25.00 (+1.00%)

Price History

Full chart

Market Stats

Previous Close2,500.00

Open2,507.00

Day Range2,498.00 – 2,528.00

52-Week Range2,167.00 – 2,689.00

Volume648.72K

Market Cap31.94B

P/E (TTM)6.01

Forward P/E6.53

EPS4.15

Dividend Yield0.00%

Beta0.57

50-Day Avg2,479.12

200-Day Avg2,434.83

About

Fortress is a real estate investment company with a focus on developing and letting premium-grade logistics real estate in SA and CEE, as well as growing our convenience and commuter-oriented retail portfolio. Fortress also holds, at the date of this report, a 16,2% interest in NEPI Rockcastle, the largest listed property company on the JSE, with a EUR7 billion portfolio across nine CEE countries. This holding reduced from 24,2% at 31 December 2023 to 16,2% at the date of this report.

Company Details

SectorReal Estate
IndustryReal Estate Services
CEOMr. Steven Brown B.Bus.Sci, C.A., C.F.A., CA(SA)
Employees0
HeadquartersBlock C, Cullinan Place, Morningside, South Africa, 2196, South Africa
Websitehttps://www.fortressfund.co.za

Leadership

Mr. Steven Brown B.Bus.Sci, C.A., C.F.A., CA(SA)CEO, MD & Executive Director · b. 1980
Mr. Ian David Vorster B.Com., C.A.Financial Director, CFO & Executive Director · b. 1981
Mr. Sipho Majija B.Sc., M.B.A.Head of Retail & Executive Director · b. 1979
Mr. Ryan EichstadtHead of Investor Relations & Corporate Finance
Jodie Ellinor-DreyerHead of Corporate Social Investment & Transformation
Jason CooperHead of Property Development
PC PotgieterHead of Sustainability
Bruce CollinsHead of Asset Management
Ms. Tamlyn Stevens C.A.Company Secretary

Financials

Income Statement

Currency: ZAR	2010-06-30	2011-06-30	2012-06-30	2013-06-30	2014-06-30	2015-06-30	2016-06-30	2017-06-30	2018-06-30	2019-06-30	2020-06-30	2021-06-30	2022-06-30	2023-06-30	2024-06-30	2025-06-30	2026-06-30
Total Revenue	289.36M	465.92M	569.87M	688.01M	763.43M	842.49M	2.28B	3.30B	3.63B	3.63B	3.62B	3.23B	3.45B	3.79B	4.33B	6.02B	6.41B
Growth (%)	-	+61.01%	+22.31%	+20.73%	+10.96%	+10.36%	+170.19%	+44.83%	+10.21%	-0.14%	-0.31%	-10.61%	+6.59%	+9.91%	+14.39%	+38.83%	+6.55%
Cost of Revenue	80.01M	147.92M	190.15M	222.71M	247.24M	287.59M	719.01M	1.12B	1.10B	1.18B	1.41B	1.31B	1.37B	1.55B	1.76B	1.91B	1.96B
Gross Profit	209.35M	318.00M	379.72M	465.30M	516.19M	554.90M	1.56B	2.18B	2.54B	2.44B	2.21B	1.92B	2.08B	2.24B	2.57B	4.11B	4.45B
Gross Margin	72.35%	68.25%	66.63%	67.63%	67.61%	65.86%	68.41%	66.17%	69.83%	67.37%	61.03%	59.37%	60.37%	59.21%	59.27%	68.31%	69.39%
Operating Expense	-167.93M	-323.49M	-539.83M	-792.45M	-856.67M	-1.44B	7.04B	-2.99B	-2.36B	-674.88M	2.23B	-200.52M	-1.55B	440.68M	281.64M	53.88M	-1.00B
Operating Income	377.28M	641.48M	919.55M	1.26B	1.37B	2.00B	-5.49B	5.18B	4.90B	3.12B	-18.48M	2.12B	3.63B	1.80B	2.29B	4.06B	5.45B
Operating Margin	130.38%	137.68%	161.36%	182.81%	179.83%	237.31%	-241.03%	156.97%	134.87%	85.97%	-0.51%	65.57%	105.26%	47.58%	52.77%	67.42%	85.03%
EBITDA	375.85M	675.68M	920.94M	1.26B	1.38B	2.00B	-4.49B	5.21B	-4.63B	3.15B	-795.36M	2.16B	3.63B	1.80B	7.55B	5.68B	8.05B
EBITDA Margin	129.89%	145.02%	161.60%	183.43%	180.24%	237.77%	-197.37%	158.14%	-127.39%	86.91%	-21.99%	66.73%	105.26%	47.58%	174.21%	94.47%	125.58%
Net Income	132.84M	282.88M	587.21M	1.27B	1.16B	2.56B	-5.37B	4.42B	-4.90B	2.62B	-8.37B	3.35B	777.82M	5.92B	4.33B	2.68B	5.07B
Net Income Margin	45.91%	60.72%	103.04%	184.85%	152.58%	304.31%	-235.98%	134.07%	-134.98%	72.14%	-231.38%	103.69%	22.57%	156.22%	99.99%	44.49%	79.14%
R&D	-	-	-	-	-	-	2.21	0.95	2.14	0.42	2.27	0.83	0.12	0.59	-	-	-
R&D as % of Total Revenue	-	-	-	-	-	-	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	-	-
Interest Expense	223.98M	348.39M	474.32M	569.53M	928.52M	775.84M	756.92M	1.17B	1.19B	1.19B	1.13B	851.24M	975.33M	1.23B	1.86B	1.88B	1.76B
Interest Expense % of Total Revenue	77.41%	74.78%	83.23%	82.78%	121.62%	92.09%	33.25%	35.53%	32.67%	32.83%	31.17%	26.33%	28.30%	32.36%	43.03%	31.31%	27.47%

Balance Sheet

Currency: ZAR	2010-06-30	2011-06-30	2012-06-30	2013-06-30	2014-06-30	2015-06-30	2016-06-30	2017-06-30	2018-06-30	2019-06-30	2020-06-30	2021-06-30	2022-06-30	2023-06-30	2024-06-30	2025-06-30	2026-06-30
Total Assets	3.04B	4.12B	5.93B	8.80B	13.47B	20.04B	55.17B	62.07B	56.64B	53.45B	43.20B	45.63B	47.59B	54.24B	53.59B	59.86B	65.99B
Total Liabilities	2.69B	3.36B	4.27B	5.56B	7.67B	6.58B	14.24B	16.95B	19.59B	18.43B	19.00B	18.25B	20.63B	20.72B	23.53B	29.24B	31.16B
Total Equity	351.80M	761.90M	1.66B	3.24B	5.79B	13.46B	40.92B	45.07B	36.95B	34.90B	24.12B	27.26B	26.74B	33.33B	29.87B	30.43B	34.58B
Cash	4.98M	3.91M	8.35M	3.65M	3.70M	4.69M	9.90M	15.77M	676.85M	11.52M	486.92M	543.01M	693.60M	208.45M	2.19B	5.19B	5.98B
Total Debt	2.50B	3.10B	3.79B	4.96B	6.86B	5.81B	12.63B	14.81B	18.27B	17.18B	16.71B	16.57B	19.12B	19.04B	21.57B	26.18B	27.12B
Net Debt	2.50B	3.10B	3.78B	4.96B	6.86B	5.80B	12.62B	14.79B	17.59B	17.17B	16.22B	16.03B	18.42B	18.83B	19.38B	20.99B	21.14B

Cash Flow

Currency: ZAR	2010-06-30	2011-06-30	2012-06-30	2013-06-30	2014-06-30	2015-06-30	2016-06-30	2017-06-30	2018-06-30	2019-06-30	2020-06-30	2021-06-30	2022-06-30	2023-06-30	2024-06-30	2025-06-30	2026-06-30
Operating Cash Flow	102.79M	40.97M	36.18M	30.07M	22.67M	-355.18M	-678.38M	-1.16B	-2.71B	-1.29B	579.93M	1.46B	1.32B	721.83M	1.21B	1.76B	2.27B
Investing Cash Flow	-2.82B	-753.06M	-352.79M	-1.53B	-2.85B	-3.69B	-2.96B	-1.93B	-55.30M	2.23B	291.43M	-1.01B	-3.14B	-1.00B	-1.15B	-2.77B	-2.10B
Financing Cash Flow	2.72B	711.02M	321.06M	1.50B	2.83B	4.05B	3.64B	3.09B	3.43B	-1.60B	-395.95M	-397.09M	1.97B	-205.60M	1.92B	4.08B	555.16M
Capital Expenditure	270.50M	640.76M	0	0	0	0	791.96M	1.03B	228.21M	1.07B	260.64M	360.88M	2.08B	2.22B	2.30B	48.59M	1.22B
Free Cash Flow	-167.71M	-599.80M	36.18M	30.07M	22.67M	-355.18M	-1.47B	-2.19B	-2.49B	-2.36B	319.30M	1.46B	-762.22M	-1.50B	-1.24B	1.71B	1.06B
Dividends Paid	-	-	-	393.62M	504.17M	1.83B	1.83B	3.11B	3.63B	3.49B	1.59B	281.32M	879.36M	3.62M	633.52M	293.27M	1.09B
FCF to OCF	-163.17%	-1464.17%	100.00%	100.00%	100.00%	100.00%	216.74%	189.25%	91.59%	183.04%	55.06%	100.00%	-57.85%	-207.16%	-102.24%	97.23%	46.43%
Dividend Paid to FCF	-	-	-	1308.80%	2224.13%	-514.13%	-124.19%	-142.00%	-145.84%	-147.97%	496.41%	19.24%	-115.37%	-0.24%	-51.14%	17.18%	103.23%

Earnings

Report Date	Feb 26, 2027
EPS Estimate	-
EPS Actual	-
Surprise	-
Timing	Pre-market

Key Statistics & Ratios

Market Cap31.94B

Enterprise Value53.92B

Trailing P/E6.01

Forward P/E6.53

Price / Sales5.01

Price / Book0.94

EPS4.15

Book Value28.25

Revenue (TTM)6.37B

Gross Profit (TTM)4.25B

EBITDA3.84B

Profit Margin79.58%

Operating Margin62.85%

Return on Equity15.74%

Return on Assets3.80%

Shares Outstanding1.28B

Shares Float995.97M

Beta0.57

Dividend Yield0.00%

Dividend Rate0.00

Payout Ratio41.96%

Dividends

20201×

0.75Mar 25, 2020

20192×

0.78Sep 25, 20190.77Mar 27, 2019

20182×

0.89Sep 19, 20180.90Mar 7, 2018

20172×

0.93Sep 6, 20170.79Mar 8, 2017

20162×

0.75Sep 7, 20160.63Mar 7, 2016

20152×

0.39Aug 24, 20150.31Mar 9, 2015

20142×

0.24Sep 1, 20140.19Mar 10, 2014

20132×

0.15Sep 2, 20130.13Mar 4, 2013

20122×

0.10Sep 3, 20120.09Mar 5, 2012

20112×

0.07Sep 5, 20110.06Mar 14, 2011

20102×

0.05Sep 13, 20100.02Mar 8, 2010

Stock Splits

May 19, 2014665:661